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OLTH investors to upgrade Thessaloniki port

The contractual obligation for investing 180 million euros in Thessaloniki port should be rapidly implemented, the chief executive officer of CMA CGM subsidiary Terminal Link, Boris Wenzel, and the managing director of DIEP, Alexander von Mellenthin, promised in their first formal joint appearance in Greece on Tuesday.

The two companies, which control 33 percent and 47 percent respectively of the consortium that is the preferred bidder for the 67 percent stake in Thessaloniki Port Authority (OLTH) with an offer of 231.9 million euros, also stated that they intend to restore the port’s “historic role in Southeastern Europe.”

The officials stressed they will reform the port’s business model and proceed to invest further in logistics centers in Thessaloniki as well as in Bulgaria and the Former Yugoslav Republic of Macedonia and the broader region to maximize the port’s impact.

“We shall make the port of Thessaloniki a junction in Southeastern Europe,” von Mellenthin stated. He added that his company chose to invest in OLTH because it believes it constitutes “an investment opportunity” and is not here to divest once it is given the chance to do so, because it deems it a strategic holding.